Unemployment and credit card companies/ possible bankruptcy
Date: Fri, 03/02/2007 - 11:47
My husband has a job paying $800 a month and free rent and utilities.
But we have $1000 in bills a month. Only $271 of that is credit cards. We haven't used our credit cards in 7 months. It's not like I am out livin it up... I haven't been out to dinner with my husband in 14 months. We are currently getting by with help from family...
I cannot get a job because when I get a job I lose our food stamps and we would have to pay childcare for 3 kids @ $3/hour x 45 hours= $405 a week. So if I take a job under $2000 a month... we will actually come out in the negative.
We have only our new car that can fit all of us but we are owing $20000 on it and it is worth $19000. We have a truck but it is old and only worth $2000 and we need it to take our trash to the dump and gather wood during the summer. If we sold our car, we would have no transportation to leave our small town of 2000 and get groceries and have no money to replace it with a older car.
We have no family in the area... grandparents 5 hours away who are in their 80's... but that is it. No one is financially able to help us right now... we are just making ends meet with our tax return... we can keep above water until August.
Any Suggestions?
You need some professional help and talk to a counselor about yo
You need some professional help and talk to a counselor about your financial problems. He will find out how much you will be able to afford according to your present financial situation. You may enroll in one of the plans offered by him. He will negotiate with your creditors for a reduction plan. Start shopping for different consolidation companies and compare the quotes. You have to be quick in making a decision before creditors start thinking negative about you. They may hire a collection agency for recovering their money and this may add up more stress to your present situation. Collectors are very rude in their collections activities. You can call your creditors and get some arrangements done.
most companies should be willing to work with you. but you also
most companies should be willing to work with you. but you also have to remember they have guidlines to follow as well as far as what they are allowed to offer to you.
Welcome to the Community :D I'm sorry things are tough for you
Welcome to the Community :D I'm sorry things are tough for you right now. Has your husband considered getting a second job? My husband has worked 2 jobs for a number of years now, but it has helped us catch up and have some breathing room. Maybe you could find a job on the hours your husband isn't working, and he can watch the kids, then you wouldn't have to worry about loosing the food stamps, hours, etc. My youngest son is with a girl that has two kids, who worked and got food stamps. When they got together, she lost the food stamps, but found a better job, and with my son working too, they make it-not very well at times, but they do. Good Luck to you,if you have any questions, please ask..Karen
Your husband may have to get the second job or you can work whil
Your husband may have to get the second job or you can work while he watches the kids like Bossy said. You may have to trade down on the new vehicle to something more affordable. Or have your loan redone so the payments will be less but the years will be longer on the payment, if you want to keep it. Talk to whoever financed your vehicle and see if they can do that. What state are you from? In Pa, they cut welfare benefits if you are not working, not if you are working. It is an incentive to work. You may want to talk to your assistance office and see what affects what. The assistance office here also has programs where they give one cash grant, but you can not go on welfare after that. I think you need to explore your options. I understand your transportation issue, but you may have to sacrifice the new car for something a little older that you can afford or refinance it to a lower payment for more years. Goodluck
